HNK2: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HNK2
Largest movements
- Cash -€164,823
down €164,823 (-99.9%), from €164,988 to €165
mainly Net result for the year (-€139,115) and Debts after one year (-€94,172)
- Tangible fixed assets -€129,732
down €129,732 (-9.9%), from €1.3m to €1.2m
of which Land and buildings: -€130,421
- Receivables within one year +€47,732
up €47,732 (+5.7%), from €830,953 to €878,685
of which Other amounts receivable: +€56,624
- Debts after one year -€94,172
down €94,172 (-12.7%), from €743,256 to €649,084
- Profit (loss) carried forward -€91,201
down €91,201, from €26,130 to -€65,071
- Reserves -€47,915
down €47,915 (-3.7%), from €1.3m to €1.2m
of which Distributable reserves: -€35,899
- Trade debts -€27,950
down €27,950 (-23.8%), from €117,559 to €89,609
- Gross operating margin -€1.2m
down €1.2m (-97.1%), from €1.2m to €34,864
- Financial income -€36,336
down €36,336 (-100.0%), from €36,336 to €0
of which Non-recurring financial income: -€27,234
- Depreciation -€33,412
down €33,412 (-20.0%), from €166,866 to €133,454
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,773,481 | €2,527,186 | -€246,296 | -8.9% |
| Fixed assets | 21/28 | €1,776,442 | €1,646,709 | -€129,732 | -7.3% |
| Tangible fixed assets | 22/27 | €1,305,284 | €1,175,552 | -€129,732 | -9.9% |
| Land and buildings | 22 | €1,301,808 | €1,171,387 | -€130,421 | -10.0% |
| Plant, machinery and equipment | 23 | - | €1,386 | +€1,386 | |
| Furniture and vehicles | 24 | €3,476 | €2,779 | -€697 | -20.0% |
| Financial fixed assets | 28 | €471,157 | €471,157 | = | 0.0% |
| Current assets | 29/58 | €997,040 | €880,476 | -€116,563 | -11.7% |
| Amounts receivable within one year | 40/41 | €830,953 | €878,685 | +€47,732 | +5.7% |
| Trade receivables | 40 | €64,136 | €55,243 | -€8,893 | -13.9% |
| Other amounts receivable | 41 | €766,817 | €823,441 | +€56,624 | +7.4% |
| Cash at bank and in hand | 54/58 | €164,988 | €165 | -€164,823 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,098 | €1,626 | +€528 | +48.1% |
| Total equity and liabilities | 10/49 | €2,773,481 | €2,527,186 | -€246,296 | -8.9% |
| Equity | 10/15 | €1,372,911 | €1,233,796 | -€139,115 | -10.1% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Capital | 10 | €66,000 | €66,000 | = | 0.0% |
| Issued capital | 100 | €66,000 | €66,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €1,280,782 | €1,232,867 | -€47,915 | -3.7% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Legal reserve | 130 | €6,600 | €6,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,238,282 | €1,226,267 | -€12,016 | -1.0% |
| Distributable reserves | 133 | €35,899 | €0 | -€35,899 | -100.0% |
| Profit (loss) carried forward | 14 | €26,130 | -€65,071 | -€91,201 | |
| Provisions and deferred taxes | 16 | €430,779 | €425,872 | -€4,908 | -1.1% |
| Deferred taxes | 168 | €430,779 | €425,872 | -€4,908 | -1.1% |
| Amounts payable | 17/49 | €969,791 | €867,519 | -€102,273 | -10.5% |
| Amounts payable after more than one year | 17 | €743,256 | €649,084 | -€94,172 | -12.7% |
| Financial debts | 170/4 | €743,256 | €649,084 | -€94,172 | -12.7% |
| Amounts payable within one year | 42/48 | €216,517 | €208,756 | -€7,762 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €97,495 | €94,172 | -€3,323 | -3.4% |
| Financial debts | 43 | €60 | €179 | +€119 | +197.5% |
| Credit institutions | 430/8 | €60 | €179 | +€119 | +197.5% |
| Trade debts | 44 | €117,559 | €89,609 | -€27,950 | -23.8% |
| Suppliers | 440/4 | €117,559 | €89,609 | -€27,950 | -23.8% |
| Taxes, remuneration and social security | 45 | €1,403 | €7,751 | +€6,348 | +452.5% |
| Taxes | 450/3 | €1,403 | €7,751 | +€6,348 | +452.5% |
| Other amounts payable | 47/48 | €0 | €17,045 | +€17,045 | |
| Accrued charges and deferred income | 492/3 | €10,018 | €9,679 | -€339 | -3.4% |
| Non-recurring operating income | 76A | €1,175,326 | €0 | -€1.2m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,866 | €133,454 | -€33,412 | -20.0% |
| Other operating charges | 640/8 | €13,461 | €22,586 | +€9,125 | +67.8% |
| Gross operating margin | 9900 | €1,218,416 | €34,864 | -€1.2m | -97.1% |
| Operating profit (loss) | 9901 | €1,038,089 | -€121,176 | -€1.2m | |
| Financial income | 75/76B | €36,336 | €0 | -€36,336 | -100.0% |
| Recurring financial income | 75 | €9,102 | €0 | -€9,102 | -100.0% |
| Non-recurring financial income | 76B | €27,234 | €0 | -€27,234 | -100.0% |
| Financial charges | 65/66B | €32,342 | €22,678 | -€9,665 | -29.9% |
| Recurring financial charges | 65 | €32,342 | €22,678 | -€9,665 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €1,042,083 | -€143,854 | -€1.2m | |
| Transfer from deferred taxes | 780 | €4,908 | €4,908 | = | 0.0% |
| Transfer to deferred taxes | 680 | €293,831 | €0 | -€293,831 | -100.0% |
| Income taxes | 67/77 | €169 | €169 | -€0 | -0.1% |
| Profit (loss) for the period | 9904 | €752,990 | -€139,115 | -€892,105 | |
| Transfer from tax-exempt reserves | 789 | €12,016 | €12,016 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €881,494 | €0 | -€881,494 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€116,488 | -€127,100 | -€10,611 | -9.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.